The awards, hosted by actress and comedienne Sandra Bernhard, honor the concert industry's top artists, venues and professionals for the year, primarily based on the Billboard Boxscore chart and box office performance between Oct. 11, 2011 - Sept. 30, 2012.

Waters took home the Top Tour Award, which acknowledges the top grossing tour, and Springsteen took home the Top Draw Award, which recognizes the top ticket selling tour. The Breakthrough Award went to one of Nashville's leading groups, Lady Antebellum. The Concert Marketing & Promotion Award went to Tim McGraw and Pennzoil's "Long Love Cars" campaign. Lady Gaga received the Eventful Fans' Choice Award, which is determined by fan "demands" at Eventful.com.

Music icon Neil Diamond was named the 2012 Billboard Legend of Live and Harlem's legendary Apollo Theater received the Humanitarian Award making it the first venue to receive the honor. The Creative Content Award went to Michael Jackson Immortal by Cirque du Soleil, Kenny Chesney took home the Road Warrior Award presented by Shell Rotella.

The Legend of Scribe Award went to Billboard's own Ray Waddell, honoring his 25 years of journalistic excellence in the touring industry.

The Top Package Award, honoring the top-grossing tour with three or more artists on the bill, went to Brothers of the Sun featuring Kenny Chesney, Tim McGraw, Grace Potter & the Nocturnals, and Jake Owen. This will mark the 8th year that Chesney has received the Top Package Award.

The Coachella Valley Music & Arts Festival in Indio, California took home the Top Boxscore Award and the Top Festival Award, and Jeff Dunham received the Top Comedy Award for the second year in a row. The O2 Arena in London was named Top Arena, and Nikon at Jones Beach Theater in Wantagh, NY received the Top Amphitheater Award.

Some of the industry-related award winners included Live Nation, 2012's Top Promoter, C3 Presents, the Top U.S. Independent Promoter, T4F, the Top International Independent Promoter, William Morris Endeavor Entertainment, the Top Agency, and Roger Waters' manager, Mark Fenwick, who was named Top Manager.

The Billboard Touring Awards reception culminated the two-day Billboard Touring Conference, in association with Shell Rotella, held at the Roosevelt Hotel Nov. 7-8. The conference united today's top touring professionals with an incredible roster of speakers including a keynote Q&A with Irving Azoff in conversation with Billboard's Editorial Director Bill Werde.